Connor Clark & Lunn Investment Management Ltd. Sells 11,359 Shares of Origin Bancorp, Inc. $OBK

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Origin Bancorp by 42.3% during the first quarter, now holding 15,467 shares valued at approximately $536,000.
• The company recently declared a quarterly dividend of $0.15 per share, with a dividend yield of 1.6% and an annualized dividend of $0.60.
• Wall Street analysts have raised their price targets for Origin Bancorp, with five analysts rating the stock as a buy and a consensus target price of $43.20.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 42.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,467 shares of the company's stock after selling 11,359 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Origin Bancorp were worth $536,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. CWM LLC raised its position in shares of Origin Bancorp by 44.8% during the 1st quarter. CWM LLC now owns 1,018 shares of the company's stock valued at $35,000 after purchasing an additional 315 shares during the period. Comerica Bank raised its position in shares of Origin Bancorp by 13.0% during the 4th quarter. Comerica Bank now owns 3,008 shares of the company's stock valued at $100,000 after purchasing an additional 347 shares during the period. Mariner LLC raised its position in shares of Origin Bancorp by 5.4% during the 4th quarter. Mariner LLC now owns 6,965 shares of the company's stock valued at $232,000 after purchasing an additional 356 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Origin Bancorp by 46.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,257 shares of the company's stock valued at $44,000 after purchasing an additional 400 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Origin Bancorp by 7.1% during the 1st quarter. New York State Common Retirement Fund now owns 9,046 shares of the company's stock valued at $314,000 after purchasing an additional 600 shares during the period. 54.68% of the stock is currently owned by institutional investors.

Origin Bancorp Trading Up 0.7%

OBK traded up $0.24 on Wednesday, reaching $36.89. 114,844 shares of the company traded hands, compared to its average volume of 151,348. Origin Bancorp, Inc. has a one year low of $28.80 and a one year high of $41.17. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.15 billion, a P/E ratio of 15.00 and a beta of 0.81. The firm has a fifty day simple moving average of $36.56 and a two-hundred day simple moving average of $35.34.

Origin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.6%. Origin Bancorp's payout ratio is currently 26.79%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Piper Sandler raised shares of Origin Bancorp from a "neutral" rating to an "overweight" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, DA Davidson lifted their price target on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $43.20.

Origin Bancorp Profile

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.